December 30, 2003

Golar LNG buys chunk of Korea Line

Golar LNG Ltd. has acquired 9.9 % of the shares in the Korean shipping company Korea Line through market purchases.

Korea Line is listed on the Seoul Stock Exchange and has a market capitalization of around US $130 million. Korea Line owns directly 100 % of two modern LNG Carriers on long term charter to KOGAS. It also has a smaller ownership interest in four other large LNG carriers also on long term charter to KOGAS.
 
Golar says it sees the investment in Korea Line "as an interesting opportunity to develop a positive relationship to mutual benefit to one of the leading Asian LNG Shipping providers."